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CI'T'Y OF SEWARD, ALASKA
....
RESOLUTION 2008-110
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, ADOPTING THE WATER ENTERPRISE FUND BUDGET FOR
CAi.ENDAR YEAR 2009
WHEREAS, on October 27, 2008, the City Manager submitted to the City Council a
proposed budget for the City oC Seward for Calendar Year 2009; and
WHEREAS, the budget was introduced at the regularly scheduled Council meeting on
October 27, 2008, and work sessions were conducted and televised on October 28, October 29,
and October 30, with a final non-televised work session on December 1, 2008; and
WHEREAS, a public hearing was held on the proposed budget on November 24, with
final adoption scheduled for December 8, 2008.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF SEWARD, ALASKA, that:
~..
Section 1. The Water Enterprise Fund budget for Calendar Year 2009 which is attached
hereto and made a part hereof by reference and which contains estimated revenues and expenses
for the period January 1 -December 31, 2009, is HEREBY ADOPTED, and the necessary funds
arc hereby appropriated.
Section 2. This resolution shall take effect immediately upon adoption.
PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 8"~
day ol~December, 2008.
THE CITY OF SEWARD, ALASKA
_~y~_f ;
Willard Dunham, Vice Mayor
CITY OF SEWARD, ALASKA
RESOLUTION 2008-110
AYES: Valdatta, Bardarson, Smith, Kellar, Keil, Dunham
NOES: Nonc
ABSENT: Corbridge
ABSTAIN: None
ATTEST:
Jean Lewis, CMC
City Clcrk
(City Seal)
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WATER ENTERPRISE FUND
Budgeted Statement of Revenues and Expenses
and Changes in Retained Earnings
For Fiscal Year 2009
2006 2007 2008 2009 2008-09
O
eratin
reve Actual ° Actual ° Budge[ Budget Variance % Change
p
g
nue:
Residential
Small General Se
i 365,240 363,780 370,000 370,000 0 0.0°,%
rv
ce
Large Genera} Service 99,345
9
1 97,527 93,700 f 10,000 16,300 17.4%
SMIC Sales 86,
29 I89,f0I 188,484 188,484 0 0.0%
Industrial Sales 56,8!0 78,383 54,200 74,000 I9,800 36.5%
Miscellaneous 152,393 126,297 150,000 16Q000 10,000 6.7ga
Charges for Services 61,082
2 60,997 61,600 60,500 -I,f00 -I.8%
6
,608 80,548 68,000 93,700 25,700 37
8%
Tonal operating revenue: 984,40 996,633 985
984 1
056
684 7 .
, ,
, 0,700 7.2%
Operating expense before deprecation:
S:daries & Benefits 287,783 256,240 274,575 28 },127 6
552 4$/0
2
Purchased services 188,929 215,055 343,000 243,000 ,
-100
000 .
-29
2%
Supplies&Maintenance 49,193 7$864 91,100 91,100 ,
0 .
O
OS%
Genera] & Administrative 195,906 209,451 230,567 249,280 18,713 .
$
1%
Total operating expense: 72I,8I I 759,610 939,242 864,507 - 74,735 ,
-8.0°!0
Operating income before depreciation 262,596 237,023 46,742 I92,I77 3ILI%
Depreciation 94,[92 (T; 98,547 (b) 173,392 <<; 2!2,!42 (d) 22
3%
Operating income (loss) 168,404 I38,4 6 - I26,650 - I9,965 .
_84,2%
Non-operating revenues (expenses)
Interest income I IQ399 159,048 89,000 105,000 ] g,0y°
Other revenue 30,567 28,965 0 0
Interest expense 0 0 -94,020 -55,4I9 O,Owo
Tonal non-operating revmuu (expense) I40,966 I88,OI3 - 5,020 49,581 $0 -I087.7°0
Eunings before transfers and contributions $309,370 $326,489 -$I3I,670 $29,6I6 -I22.5%
Transfers Out -84,249 -248,910 -83,879 -83,070 -1.0°0
Transfers In 0 0 0 0 0.0%
Capital contributions 0 11,879 0 0 0.0%
Change in net assets $225,I2I $89,458 -$2I5,549 -$53,454 -75.2%
Beginning net assets (°) $5,370,I97 $5,595,3!8 $5,684,776 $5,469,227
Ending net assets $5,595,3I8 $5,684,776 $5,469,227 $5,4I5,773
° lies ro annual Comprehensive Annual Financial Report
Of total depreciation expense, the followin€ amounts were attributable to capital assets funded with capital mnrribuuons
(a~ $[7,286 or I9%; (b) $17,286 or I8%; (c) $I7,286 or IO%; (d) $32,033 or IS%
CITY OF SEWARD
WATER ENTERPRISE FUND
Budgeted Statement of Cash Flow
For Fiscal Year 2009
Beginning cash balance at l/1/08:
Cash is provided by (used for):
Loan payment foe LTC project
(:hange in net assets
Add expense items not affecting cash:
Depreciation
Net cash provided by (used for) operations
Other uses of cash
Debt principal payments
Loan to GF for LTC bond reserves and project
Capital outlay
Net increase (decrease) in cash
Estimated ending cash balance
2008 2009 2008-09
Budget Budget % Change
$3,I52,29I
0 5,630
-$2I5,549 -$53,454
I73,392 2I2,I42
-$42,I57 $I64,3I8
-I29,889 -II4,07I
-2,06,360 0
-220,696 (a) -84,000 (b)
-$2,449,I02 -$33,753
$703,I89 $669,436
75.2%
22.3
-489.8
0.0%
6pL9%
90.6°/O
(°) Ties to CAFR and includes only Warer Enterprise Fund; excludes related capital projects. See below.
(a~ $220,696 represents: Equipment = $140,000; Depreciation reserve contribution = $86,696
(6) Equipment = $84,000; No Depreciation reserve fund contribution this year.
CITY OF SEWARD
WATER ENTERPRISE FUND
Budgeted Cash versus Capital Needs
For Fiscal Year 2009
2008 2009
Estimated Ending cash balance at I2/3I: $703,I89 $669,436
Cash Balance -Water Fund & Related Capital Projects (9/30/08):
(Fund 70I -Water Enterprise Fund
Fund 700 -Major Maintenance, Repair & Replacement Fur
Fund 704 -Forest Acres/Gateway Water and Sewer Lines
Fund 708 -Fire Hydrant, Phase II
Fund 7I0 -Water Source Study
7I3 -Third Avenue Water Line
Total Water-related Cash:
SI,203,257 Capital needs listed below °#
4,OI9 Earmarked for capital budget
29,423 Earmarked for capital project
6I,9I2 Earmarked for capital project
4,272 Earmarked for capital project
45,000 Earmarked for capital project
$I,347,883
Water
Replace pressure station (Benson and Swetmann) $300,000
Water storage tank (LO million gallons 1,725,000
Gateway Water Tank roof replacement 575,000
Lowell Canyon Water Tank > 200K gallons 402,500
Lowell Canyon Water Tank > 400K gallons 575,000
Replacement of water lines due to aging 500,000
$4,077,500